Italy's Gruppo Redilco has signed a new partnership agreement with German asset manager Corpus Sireo, the company said in a statement on Monday. The joint venture is aimed at speeding up the company's expansion into the German market as well as strenghtening its Italian activities.

Italy's Gruppo Redilco has signed a new partnership agreement with German asset manager Corpus Sireo, the company said in a statement on Monday. The joint venture is aimed at speeding up the company's expansion into the German market as well as strenghtening its Italian activities.

The new partnership will focus on providing corporate and asset management services to private and public parties in Italy, while giving Redilco more exposure to the German market. Redilco added that the two joint partners have already been awarded their first mandate, and will be responsible for the management of T-Systems Italia's real estate assets.

'The partnership with Gruppo Redilco will allow us to replicate our model and experience in other European countries,' said Michael Zimmer, CEO of Corpus Sireo. Dusseldorf-based Corpus Sireo manages a real estate portfolio of mroe than EUR 15.6 bn.

Gruppo Redilco has been active in the real estate sector for fourty years . The group has five units, Redilco Real; Redilco Property Management; Redil-CO; GVA Redilco and Redilco Hotels & Tourism.